IMF board to approve AIP for Greece by July 27, says webpage

The International Monetary Fund (IMF) has agreed with Greece’s lenders to participate in the country’s program “in principle” as Europeans were not ready to discuss the issue of debt, Christine Lagarde reportedly said, during a briefing of the Fund’s executive council on Monday.

According to the webpage, the IMF’s board is expected to approve by July 27 the new “Approval in Principle (AIP)” loan agreement for Greece that will include funding totaling 2 billion euros with a 14-month duration. These funds will be disbursed to Greece only if there is no positive outcome on the country’s debt.